"I stopped counting after 20 people asked me if they were okay in Apple," noted Cramer. "Some bought it lower. Some bought it higher but they are all scared to death about it."

Adam Jeffery | CNBC

An American icon: the Apple store in Manhattan

We'll cut right to the chase; the "Mad Money" host doesn't see any reason to fear the stock.

"The funny thing is that Apple's pretty much the opposite of scary these days. It is a slow growing, low multiple value stock with oodles of cash, a good dividend and new products that may or may not move the needle."

However, Cramer doesn't think Apple stock will return to its glory days anytime soon either. That's largely because he thinks the iPhone has saturated the U.S. market.

"Now make no mistake, that's great for the company," Cramer said, "but it's not a catalyst for buying Apple stock."

By the time a product achieves saturation, a significant amount of the product's potential has already been factored into share price – remember, the stock market trades on future earnings potential, Cramer says.

That's what Cramer thinks drives the next big move – a hot new product - not anyone and everyone taking pictures on iPhones.

Although Cramer's analysis suggests there may be better places to put money to work in the near-term, Cramer doesn't think there's any reason to fear Apple, either. He thinks it's just fine. "That's right, fine. I don't think Apple's going down much but I don't think it will run away either."